Pitcairn Co. Has $778,000 Holdings in Analog Devices, Inc. (NASDAQ:ADI)

Pitcairn Co. lessened its position in shares of Analog Devices, Inc. (NASDAQ:ADI) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,660 shares of the semiconductor company’s stock after selling 61 shares during the period. Pitcairn Co.’s holdings in Analog Devices were worth $778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Hopwood Financial Services Inc. bought a new position in shares of Analog Devices in the 4th quarter worth about $30,000. Mainstream Capital Management LLC acquired a new stake in Analog Devices during the fourth quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC increased its holdings in Analog Devices by 63.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 142 shares of the semiconductor company’s stock worth $30,000 after purchasing an additional 55 shares in the last quarter. Financial Life Planners acquired a new position in Analog Devices in the fourth quarter valued at approximately $33,000. Finally, Kestra Investment Management LLC bought a new position in shares of Analog Devices during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 86.81% of the company’s stock.

Insider Buying and Selling at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of Analog Devices stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $209.12, for a total value of $2,091,200.00. Following the completion of the transaction, the chief executive officer now owns 64,918 shares in the company, valued at $13,575,652.16. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard C. Puccio, Jr. sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $209.19, for a total transaction of $836,760.00. Following the completion of the sale, the chief financial officer now directly owns 49,916 shares in the company, valued at approximately $10,441,928.04. This trade represents a 7.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,684 shares of company stock valued at $5,591,600. Company insiders own 0.33% of the company’s stock.

Analog Devices Stock Performance

Shares of ADI opened at $164.60 on Friday. The stock has a 50 day moving average of $213.22 and a 200 day moving average of $218.36. The company has a market capitalization of $81.64 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 2.85 and a beta of 1.06. Analog Devices, Inc. has a 12 month low of $164.14 and a 12 month high of $247.10. The company has a current ratio of 1.93, a quick ratio of 1.43 and a debt-to-equity ratio of 0.19.

Analog Devices (NASDAQ:ADI) last announced its quarterly earnings data on Wednesday, February 19th. The semiconductor company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.09. The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.36 billion. Analog Devices had a return on equity of 8.91% and a net margin of 16.75%. The business’s revenue for the quarter was down 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.73 EPS. As a group, sell-side analysts forecast that Analog Devices, Inc. will post 7.14 earnings per share for the current year.

Analog Devices announced that its Board of Directors has initiated a share repurchase program on Tuesday, February 18th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the semiconductor company to buy up to 9.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Analog Devices Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Tuesday, March 4th were paid a $0.99 dividend. This is an increase from Analog Devices’s previous quarterly dividend of $0.92. The ex-dividend date was Tuesday, March 4th. This represents a $3.96 annualized dividend and a yield of 2.41%. Analog Devices’s dividend payout ratio is presently 126.11%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADI. Williams Trading set a $245.00 target price on shares of Analog Devices in a research report on Friday, February 14th. Maxim Group assumed coverage on shares of Analog Devices in a report on Friday, February 14th. They set a “buy” rating on the stock. Lake Street Capital assumed coverage on shares of Analog Devices in a research report on Friday, February 14th. They set a “buy” rating on the stock. Morgan Stanley boosted their target price on Analog Devices from $248.00 to $250.00 and gave the company an “overweight” rating in a research report on Thursday, February 20th. Finally, Truist Financial increased their price target on Analog Devices from $230.00 to $248.00 and gave the stock a “hold” rating in a report on Thursday, February 20th. Six investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, Analog Devices presently has a consensus rating of “Moderate Buy” and an average target price of $255.41.

Analog Devices Company Profile

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.